Weyers Cave, Virginia Property Taxes
The median property tax rate in Weyers Cave, VA is 0.63%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Weyers Cave at $190,700, the typical annual property tax bill is $1,186, which is well below the national median of $2,690. Property taxes in Weyers Cave are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Weyers Cave's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Weyers Cave or another part of Augusta County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Weyers Cave, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,201
$1,115
Ownwell’s Weyers Cave Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Weyers Cave with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Weyers Cave to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Weyers Cave, Virginia
Property taxes in Weyers Cave, Virginia, play a crucial role in supporting essential local services like public schools, road maintenance, and emergency services. The median tax rate in Weyers Cave is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Weyers Cave set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weyers Cave estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Weyers Cave's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24486 has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Weyers Cave provides valuable insights into the varying tax landscape across Augusta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Weyers Cave Tax Rate
0.63%
Average Augusta County Tax Rate
0.63%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weyers Cave, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24486 | 0.62% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Weyers Cave, Virginia
In Weyers Cave, Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Augusta County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Weyers Cave, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Weyers Cave helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 24486 has the highest and lowest median tax bill of $1,186.
Average Weyers Cave Assessed Value
$190,700
Average Augusta County Assessed Value
$204,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Weyers Cave, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24486 | $131,160 | $158,600 | $190,700 | $258,225 | $378,087 |
Source: Ownwell
Property Tax Bills Across Weyers Cave, Virginia
Property tax bills in Weyers Cave, located in Augusta County, VA, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Weyers Cave can expect their tax bills to vary significantly, with the 25th percentile tax bill at $990 and the 75th percentile at $1541. The highest median tax bill in the area is $1186, which is also the lowest, indicating a relatively consistent tax burden across the region. The tax rate in Weyers Cave is influenced by various factors, including local government budgets, public service needs, and educational funding. Compared to the national median property tax rate of 0.99%, homeowners in Weyers Cave may find their tax bills to be quite reasonable. These property taxes play a crucial role in funding essential services such as schools, infrastructure, and emergency services, directly affecting the quality of life for residents.
Average Weyers Cave Tax Bill
$1,186
Average Augusta County Tax Bill
$1,250
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Weyers Cave, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24486 | $815 | $990 | $1,186 | $1,541 | $2,096 |
Source: Ownwell